05310oam 22011774 450 991082747500332120240402051500.01-4623-8099-91-4527-6217-11-4518-7323-997866128438771-282-84387-7(CKB)3170000000055326(EBL)1608405(SSID)ssj0000939950(PQKBManifestationID)11518974(PQKBTitleCode)TC0000939950(PQKBWorkID)10946354(PQKB)10037270(OCoLC)450034800(MiAaPQ)EBC1608405(IMF)WPIEE2009176(EXLCZ)99317000000005532620020129d2009 uf 0engur|n|---|||||txtccrTourism Specialization and Economic Development : Evidence from the UNESCO World Heritage List /John Piotrowski, Rabah Arezki, Reda Cherif1st ed.Washington, D.C. :International Monetary Fund,2009.1 online resource (26 p.)IMF Working Papers"July 2009."1-4519-1749-X Includes bibliographical references.Contents; I. Introduction; Figures; 1. Economic Growth and Tourism Specialization; II. UNESCO World Heritage List as An Instrument for Tourism Specialization; 2. UNESCO World Heritage Around the World; Tables; 1. Regional and Historical Distribution of World Heritage Sites (2002); 2. Correlation Between Total UNESCO World Heritage Sites and Average UN Voting Coincidence, 1980-2000; III. Empirical Investigation; A. Data and Specification; B. Results; 3. Benchmark Regressions; C. Robustness; IV. Conclusion; Appendixes; I. Data Description and Sources; Appendix Tables; 1. Data Description2. Countries Included in the SampleII. Additional Robustness Checks; 3. Robustness using Various WHL; 4. Robustness to Using Only Cultural Sites; 5. Robustness to Removing various Centuries from the WHL; 6. Robustness to Using Additional Instruments for Tourism; 7. Robustness to using Different Measures of GDP; ReferencesThe present paper investigates whether tourism specialization is a viable strategy for development. We estimate standard growth equations augmented with a variable measuring tourism specialization using instrumental variables techniques for a large cross-section of countries for the period 1980-2002. We introduce an instrument for tourism based on the UNESCO World Heritage List. We find that there is a positive relationship between the extent of tourism specialization and economic growth. An increase of one standard deviation in the share of tourism in exports leads to about 0.5 percentage point in additional annual growth, everything else being constant. Our result holds against a large array of robustness checks.IMF Working Papers; Working Paper ;No. 2009/176TourismEconomic developmentForeign ExchangeimfMacroeconomicsimfPublic FinanceimfIndustries: Hospital,Travel and TourismimfSportsimfGamblingimfRestaurantsimfRecreationimfTourismimfPersonal Income, Wealth, and Their DistributionsimfNational Government Expenditures and Related Policies: GeneralimfEducation: GeneralimfHospitality, leisure & tourism industriesimfCurrencyimfForeign exchangeimfPublic finance & taxationimfEducationimfPurchasing power parityimfPersonal incomeimfPublic expenditure reviewimfIncomeimfExpenditures, PublicimfUnited StatesimfTourism.Economic development.Foreign ExchangeMacroeconomicsPublic FinanceIndustries: Hospital,Travel and TourismSportsGamblingRestaurantsRecreationTourismPersonal Income, Wealth, and Their DistributionsNational Government Expenditures and Related Policies: GeneralEducation: GeneralHospitality, leisure & tourism industriesCurrencyForeign exchangePublic finance & taxationEducationPurchasing power parityPersonal incomePublic expenditure reviewIncomeExpenditures, Public301.24Piotrowski John1681910Arezki Rabah1595842Cherif Reda1645381IMF Institute.International Monetary Fund.Fiscal Affairs Dept.DcWaIMFBOOK9910827475003321Tourism Specialization and Economic Development4051654UNINA